Calm down. Trump won't be that bad for the economy

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Some of Trump's policies - particularly his proposed reforms to corporation tax - make a lot of sense

Trump and Brexit may be very different phenomena, but there is one thing that unites them; in both cases, the vote represented an unambiguous rejection of the ruling status quo without much knowledge of what’s going to replace it. In Britain, the status quo was David Cameron’s Remain campaign. In the US, no-one better personified established political and economic elites than Hillary Clinton. Both have taken a hammering at the ballot box.

In most popular votes, a “status quo bias” usually triumphs. Citizens will vote for the devil they already know, rather than take a risk with unknown. But with Brexit and now Trump, this old truism has been turned on its head.